Navigating AI needs strong sails

AI will cause several important shifts in the way the financial ecosystem operates

Irresistible though it may appear, the use of artificial intelligence (AI) remains fraught. A new report by the World Economic Forum (WEF) has highlighted the issues that organisations must address as they inevitably move to enhance the use of AI in financial services. 

Firms that are moving quickly to adopt AI in financial processes will be far ahead of competition, but they will also face unprecedented and unanticipated risks. The nature of AI is such that it could take decisions which may violate rules, be opaque while also be at a speed where timely human intervention is impossible. 

The WEF report called